If price elasticity is greater than one, then demand is said to be elastic.
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Q26: If price elasticity is less than one,
Q27: Price elasticity
A)is impossible to calculate.
B)can only be
Q28: If income elasticity is positive, a product
Q29: Price and total revenue move in opposite
Q30: Elasticities measure the response of one variable
Q32: Inferior goods may also be referred to
Q33: Income elasticity has a range of
A)greater than
Q34: The science of "knowing the customer" is
Q35: If demand is unit elastic, an increase
Q36: Income elasticity is defined as the
A)percentage change
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